The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
- - - - -
GLOBAL MARKETS
Asian stocks struggled for headway on Wednesday as the
second half of the year got underway, with improving
economic data offset by worries that surging coronavirus
cases in the United States could derail the world's recovery
before it properly begins. MKTS/GLOB
WORLD OIL PRICES
Oil prices rose more than 1% on Wednesday after data showed
crude inventories in the United States fell much more than
expected, suggesting demand is improving even as the
coronavirus outbreak spreads around the
world. O/R
EMERGING MARKETS
For the top emerging markets news, double click on
STOCKS
For the latest news on African stocks, click on .J
SOUTH AFRICA MARKETS
South Africa's rand fell against the U.S. dollar on Tuesday
as data showed the domestic recession deepened in the first
quarter of this year - before the coronavirus pandemic hit
the country and put further strain on the
economy. OIL
Nigeria has changed the way marginal oilfields are allocated
to avoid legal problems that bedevilled a previous bidding
round, the director of the Department of Petroleum Resources
(DPR) said on Tuesday. WTO/TRADE
Nigeria's candidate to head the World Trade Organization
(WTO) said she feels "strong support" from Africa and
expects African leaders to unite behind one candidate as
sources following the race said she is gaining broader
backing. STOCKS
Nigerian stocks fell to a five-week low on Tuesday as moves
to relax some coronavirus curbs stirred fears of new spikes
while prices dropped for the nation's main export earner,
oil. MARKETS
The Kenyan shilling KES= edged slightly downwards on
Tuesday due to dollar demand from the energy sector and some
multinational companies exceeding inflows from remittances
and horticulture exports, traders said. ECONOMY
Kenya's economic growth slowed to 4.9% in the first quarter
of this year from 5.5% a year earlier, hit by the
uncertainty created by coronavirus pandemic, the statistics
office said on Tuesday. MARKETS
The Ugandan shilling UGX= was stable on Tuesday, mainly
due to demand for hard currency from both merchandise
importers and banks. PROTESTS
At least 10 people died and more than 80 were wounded when
the killing of a popular singer triggered blasts and
protests in Ethiopia's capital and the surrounding Oromiya
region on Tuesday, police and a doctor said. RATES
Zimbabwe's central bank will raise its main lending rate to
35% from 15% from Wednesday to curb speculative borrowing,
its governor said, as the country grapples with soaring
inflation. BELGIUM
Belgium's King Philippe expressed deep regret on Tuesday for
the "suffering and humiliation" inflicted on the Democratic
Republic of Congo during its 75 years under Belgian
rule. the latest precious metals report click on GOL/
For the latest base metals report click on MET/L
For the latest crude oil report click on O/L